Stellar (XLM) Price Near $0.30; Makes Big Move Relative to Two Week Trend, Price Base in Formation Over Past 14 Days

The Hourly View for XLM

Last Updated February 1, 2021, 02:017 GMT

At the time of this writing, Stellar’s price is down $0 (-0.29%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Stellar Daily Price Recap

0.3283 (USD) was the opening price of the day for Stellar, resulting in the previous day being one in which price moved up 11.86% ($0.0348) from the previous day. The change in price came along side change in volume that was down 36% from previous day, but up 475.36% from the Sunday of last week. Relative to other instruments in the Top Cryptos asset class, Stellar ranked 2nd since the previous day in terms of percentage price change. The daily price chart of Stellar below illustrates.

XLM

Stellar Technical Analysis

Volatility for Stellar has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 16 out of the past 30 days.